SemGroup Corp (SEMG) Stake Lowered by Port Capital LLC

Port Capital LLC decreased its position in shares of SemGroup Corp (NYSE:SEMG) by 10.1% during the third quarter, Holdings Channel reports. The institutional investor owned 354,316 shares of the pipeline company’s stock after selling 39,955 shares during the period. Port Capital LLC’s holdings in SemGroup were worth $7,813,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of SEMG. Amalgamated Bank bought a new stake in SemGroup in the second quarter valued at about $274,000. Aperio Group LLC bought a new stake in SemGroup in the second quarter valued at about $327,000. Alps Advisors Inc. increased its holdings in SemGroup by 4.8% in the second quarter. Alps Advisors Inc. now owns 269,039 shares of the pipeline company’s stock valued at $8,125,000 after purchasing an additional 12,231 shares during the last quarter. First Trust Advisors LP grew its stake in SemGroup by 288.7% in the second quarter. First Trust Advisors LP now owns 65,449 shares of the pipeline company’s stock valued at $1,662,000 after acquiring an additional 48,610 shares during the period. Finally, Jennison Associates LLC grew its stake in SemGroup by 0.3% in the second quarter. Jennison Associates LLC now owns 1,714,134 shares of the pipeline company’s stock valued at $43,539,000 after acquiring an additional 5,811 shares during the period. Hedge funds and other institutional investors own 98.24% of the company’s stock.

NYSE:SEMG traded down $0.81 on Thursday, reaching $15.46. The company’s stock had a trading volume of 4,965 shares, compared to its average volume of 1,016,354. SemGroup Corp has a 1-year low of $15.46 and a 1-year high of $30.95. The company has a current ratio of 1.17, a quick ratio of 1.10 and a debt-to-equity ratio of 1.68. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of -66.46 and a beta of 1.87.

SemGroup (NYSE:SEMG) last posted its quarterly earnings data on Wednesday, November 7th. The pipeline company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.09). The firm had revenue of $634.00 million for the quarter, compared to analyst estimates of $586.71 million. SemGroup had a positive return on equity of 0.32% and a negative net margin of 0.99%. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the company earned ($0.25) earnings per share. Sell-side analysts forecast that SemGroup Corp will post -0.11 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 26th. Stockholders of record on Friday, November 16th were given a dividend of $0.4725 per share. The ex-dividend date was Thursday, November 15th. This represents a $1.89 annualized dividend and a dividend yield of 12.23%. SemGroup’s dividend payout ratio is currently -787.50%.

A number of research firms have issued reports on SEMG. Morgan Stanley decreased their target price on SemGroup from $26.00 to $24.00 and set an “equal weight” rating for the company in a research note on Friday, November 30th. Zacks Investment Research reissued a “hold” rating and issued a $22.00 target price on shares of SemGroup in a research note on Thursday, November 15th. Wells Fargo & Co reissued a “hold” rating on shares of SemGroup in a research note on Tuesday, November 13th. ValuEngine cut SemGroup from a “hold” rating to a “sell” rating in a research note on Saturday, November 10th. Finally, Barclays reissued a “hold” rating and issued a $25.00 target price on shares of SemGroup in a research note on Friday, October 12th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. SemGroup currently has a consensus rating of “Hold” and an average target price of $26.40.

In other news, Director William J. Mcadam acquired 15,000 shares of SemGroup stock in a transaction dated Monday, November 19th. The stock was bought at an average cost of $16.57 per share, with a total value of $248,550.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.77% of the stock is owned by corporate insiders.

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About SemGroup

SemGroup Corporation provides gathering, transportation, storage, distribution, marketing, and other midstream services for producers, refiners of petroleum products, and other market participants. Its Crude Transportation segment operates crude oil pipelines and truck transportation businesses. It operates a 455-mile crude oil gathering and transportation pipeline system in Kansas and northern Oklahoma; a 75-mile crude oil gathering pipeline system that transports crude oil from production facilities in the DJ Basin to the pipeline owned by White Cliffs Pipeline, LLC; a 527-mile pipeline that transports crude oil from Platteville, Colorado to Cushing, Oklahoma; and 3 pipelines with an aggregate of 106 miles of pipe, as well as crude oil trucking fleet of 215 transport trucks and 210 trailers.

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Institutional Ownership by Quarter for SemGroup (NYSE:SEMG)

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